For coin collectors, the end of the penny brings nostalgia
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Collecting pennies was how Jason Jenkins fell in love with coin collecting.
“It was the first thing we collected,” Jenkins told Minnesota Now host Nina Moini. “I even have some of the 1995 double die pennies I found with my grandfather; those I intend to keep forever.”
Jenkins is part of the Red River Valley Coin Club, an 80-person coin collecting group in the Fargo-Moorhead area. The club meets every other week at the Moorhead Public Library.
When news broke that the U.S. was minting its final penny after more than 230 years, it wasn’t a huge topic of discussion. After all, coin collectors already have their fair share. But it did bring back memories of Jenkin’s childhood.
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For longtime coin collectors like Jenkins, the penny was a cheap and accessible way to access the hobby. It just made “cents.”
Jenkins and his grandpa used to go through the pennies together after going to the bank, looking for different varieties and shades. Sometimes, they even made a profit. Jenkins said the double die pennies could go anywhere from $150 to $250 back in the 90s.
It’s not just about the money, though. Jenkins says he enjoyed observing all the different versions of the penny, from wheat pennies to the 2009 log cabin issues.
For those who wonder if it’s the right time to start hoarding these bronze coins, Jenkins compares this halt to the loss of the Canadian penny in 2012, which he says can still be found today.
“I don’t believe they’re actually going to ever be rare,” said Jenkins. “There’s always going to be hoards of pennies everywhere.”
Still, the end of the penny makes Jenkins wonder the fate of other U.S. currency.
“Seeing the progression or decline of the US dollar is kind of one of those ‘watching the Roman Empire end’ type of scenes.”
The Red River Valley Coin Club is hosting a club show at the Ramada Fargo this weekend.
Use the audio player above to listen to the full conversation with Jason Jenkins.
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